The Creighton University Rural Mainstreet Index – or RMI – dropped in April to its lowest level since the survey began in 2006.
More than nine of 10 bank CEOs expect the coronavirus to push their local area into a recession.
That’s up from 61% in March.
Almost one-third indicated that their bank had experienced higher loan delinquency rates resulting from the coronavirus threat.
The overall index for April slumped to 12.1 from 35.5 in March.
April’s decline represents the largest one month fall since the survey was initiated in January 2006.
The Kansas RMI for April plunged to 8.9 from March’s 32.0.
The state’s farmland-price index slumped to 39.4 from 45.0 in March.
The new-hiring index for Kansas wilted to 5.7 from 31.9 in March.
The survey covers ten states – Kansas, Colorado, Illinois, Iowa, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming.